- “Single colour” – Most commonly Black (and white). You can change this to be any other available colour, and this colour will be the colour of the Filled candles, and the Outline of the unfilled candles.
- “Price change since previous” – With this option selected you can specify the colour for:
- The “Up” candles where the close price is greater than the Previous Close, and
- A different colour for the “Down” candles where the close price is less than the Previous Close, and
- Another colour to be used when the Price is the same as Previous Close.
- “Price change since open” – This option simply indicates whether the price action in the period closed higher than the open, or closed lower than the open. This option is similar to the first option above except that you can use three different colours for: the up candles, the down candles, and the no-change candles.
In addition to the above options, there are three other possibilities that are not so commonly used.
There is also the option to“Fill all candles”, and to “Colour candle border separately” so that you can specify a different colour for the borders of the candles.
How to access
To access this feature follow these steps.
- Select the Candlestick chart type from the dropdown in the toolbar.
2. Next, double-click on any candle to display the “Price Plot Properties” or right-click on any candle and select “Candlestick Properties”. On the “Style” tab you can also change the “Line Thickness” to make the candles a little bolder and easier to view.
3. A useful option is to display an overlay of the price movement on the Candlestick chart. Select the Colour tab, then change the properties as required. Price change since previous is useful. The Candles can be filled or hollow to provide different insight to trading patterns. These options are explained above.